Nexus Real Estate Investment Trust ( (EFRTF) ) has released its Q4 earnings. Here is a breakdown of the information Nexus Real Estate Investment Trust presented to its investors.
Nexus Industrial REIT is a Canadian real estate investment trust focusing on the acquisition, ownership, and management of industrial properties, aiming to enhance unitholder value through strategic investments in primary and secondary markets across Canada.
In its latest earnings report, Nexus Industrial REIT announced a significant growth in net operating income for the fourth quarter and the entire year of 2024, driven by strategic acquisitions and developments. The company has been transitioning towards a pure-play industrial REIT, focusing on industrial properties and divesting non-core assets.
Key financial highlights include a 10% increase in net operating income for the fourth quarter, reaching $32.1 million, and a 12.4% annual increase to $125.9 million. The REIT completed several development projects, adding substantial gross leasable area, and reported a notable increase in industrial same property net operating income by 5.1% year-over-year. Additionally, the REIT’s net income for the year was $90.9 million, supported by fair value gains on investment properties.
Looking forward, Nexus Industrial REIT is optimistic about its strategic direction, expecting mid-single-digit growth in same property net operating income for its industrial portfolio in 2025. The completion of ongoing development projects is anticipated to further enhance the REIT’s financial performance, contributing significantly to its net operating income.
Overall, Nexus Industrial REIT remains committed to its strategy of focusing on industrial properties, with plans to utilize proceeds from asset sales to reduce debt and fund future developments, aiming to deliver long-term value to its stakeholders.